First Atlantic Nickel & Cobalt closes C$3.77M financing

First Atlantic Nickel & Cobalt Corp. has closed a C$3.77 million non-brokered flow-through placement. This transaction, which included both flow-through and charity shares, brings the company's total gross proceeds from two September financings to approximately C$9.925 million.

The company intends to utilize the funds for expansion and follow-up drilling at Alloy Max North and South, as well as definition drilling and metallurgical test work at the RPM zone. Additionally, the capital will support access-road upgrades along the Pipestone XL trend in central Newfoundland.